Massachusetts is officially collecting more tax revenue from marijuana than alcohol, state data shows.<\/p>\n
As of December 2021, the state took in $51.3 million from alcohol taxes and $74.2 million from cannabis at the halfway point of the fiscal year.<\/p>\n
Overall, Massachusetts has seen $2.54 billion in adult-use marijuana purchases since the market came online in November 2018. Regulators first reported that the state achieved the $2 billion sales milestone<\/a> in September.<\/p>\n The news about cannabis overtaking alcohol in terms of tax revenue, which WCVB-TV first reported<\/a>, is a welcome development for advocates who have been arguing that the plant is less harmful than liquor and could be used as a substitute.<\/p>\n Illinois also saw cannabis taxes beat out booze for the first time<\/a> last year, with the state collecting about $100 million more from adult-use marijuana than alcohol during 2021.<\/p>\n States that have legalized marijuana have collectively garnered more than $10 billion in cannabis tax revenue<\/a> since the first licensed sales started in 2014, according to a report released by the Marijuana Policy Project (MPP) earlier this month.<\/p>\n And in those adult-use states, regulators are doing what they can to ensure that the tax dollars are effectively invested.<\/p>\n For example, Illinois is dedicating portions of tax revenue to mental health services, as well as local organizations \u201cdeveloping programs that benefit disadvantaged communities.\u201d In July, state officials put $3.5 million in\u00a0cannabis-generated funds toward efforts to reduce violence<\/a>\u00a0through street intervention programs.<\/p>\n California officials announced in June that they were awarding about $29 million in grants<\/a> funded by marijuana tax revenue to 58 nonprofit organizations, with the intent of righting the wrongs of the war on drugs. The state collected about\u00a0$817 million in adult-use marijuana tax revenue<\/a>\u00a0during the 2020-2021 fiscal year, state officials estimated last summer. That\u2019s 55 percent more cannabis earnings for state coffers than was generated in the prior fiscal year.<\/p>\n Nearly $500 million of cannabis tax revenue in Colorado has supported the state\u2019s public school system. That state brought in a record $423 million in marijuana tax dollars<\/a> last year.<\/p>\n Governors Across The U.S. Tout Marijuana Reform Progress In State Of The State Speeches And Budgets<\/a><\/p>\n<\/blockquote>\n\n The post Massachusetts Marijuana Tax Revenue Now Exceeds Alcohol By Millions<\/a> appeared first on Marijuana Moment<\/a>.<\/p>\n
Massachusetts is officially collecting more tax revenue from marijuana than alcohol, state data shows. As of December 2021, the state took in $51.3 million from alcohol taxes and $74.2 million from cannabis at the halfway point of the fiscal year. Overall, Massachusetts has seen $2.54 billion in adult-use marijuana purchasesContinue Reading<\/a><\/span><\/p>\n","protected":false},"author":458,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1335,18],"tags":[],"_links":{"self":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/52488"}],"collection":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/users\/458"}],"replies":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/comments?post=52488"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/52488\/revisions"}],"predecessor-version":[{"id":52489,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/52488\/revisions\/52489"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=52488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=52488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=52488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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\nRead More: Massachusetts Marijuana Tax Revenue Now Exceeds Alcohol By Millions<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"